Analysis for Jan 11

Intraday Update 1.15 PM:


In Nifty Hour charts convergence of MAs are present. The 20Hr MA has just crossed over the 200 Hr MA but the 50 Hr MA is fast approaching the 200 Hr MA. If Fast fall develops then huge down moves if crossover happens then huge upmoves. 

If Nifty trades above the 50 DMA @ 4887 and week Hema of 4864 and closes above it then the crossover is likely to take place.


Intraday Update 10.30 AM:

Nifty has made a high of 4864 corresponding to the week Hema - which is also the 38.2% retr from 5400 - 4531. A pause is likely here so Partbooked at 4870NF and Trailing the remaining SL to Close below 4825 Day Pivot.

BEARISH BAT PATTERN:

CHECK LIST-DAY
CLOSE	4850
PIVOT	4825	10EMA	4750
HI EMA	4796	13EMA	4746
LOW EMA	4718	26EMA	4771
5EMA	4775	prev HI	4856
5 SMA	4769	prev LOW	4769
200 Hr MA	4775	100 DMA	4944
100 Hr MA	4721	50 DMA	4889
50 Hr MA	4733	20 DMA	4711

Positional	Trade Table
Current pattern	X-A	B	C	D(current)
Bearish Bat pattern Hour TF	5099-4531	4801	4588	4795 - 94.3% of BC
Trade initiated	SL revised to Day close below 4795 Day HEMA
reentered Longs at 4795NF(10 Jan)	If 4795 broken upwards then proj for D
	113.00%	4828.00
	127.00%	4858.00	Achieved
	141.40%	4889.00	Book PP
	161.80%	4932.00

BOOK PARTIAL PROFITS WHEN NS REACHES 4882-90 AS IT IS 61.8% RETR OF THE LEG 5099 - 4531 CORRESPONDING TO 50 DMA AND TRAIL SL TO 4825 DAY PIVOT

	Trade Table
Current pattern	O-X	A	B(current)
Bearish Shark pattern	5400 - 4639	5099	4531
Trade initiated
	Projections for C
	50.00%	4815.00
	61.80%	4882.00
	70.70%	4932.00
	78.60%	4977.00

IMPORTANT TA parameters for projections
127.00%	4858.00	week HEMA
141.40%	4889.00	50 DMA
161.80%	4932.00	100 DMA